maturity in the event of crises, and show that both necessarily improve ex ante welfare if they do not decrease expected …

The maturity structure of debt can have financial and real consequences. Short-term debt exposes borrowers to rollover … crises. Moreover, debt maturity can have an impact on the ability of firms to undertake long-term productive investments and … maturity and to characterize differences across countries …

We study the relationship between default and the maturity structure of the debt portfolio of a Sovereign, under …

This paper studies the maturity and stream of payments of sovereign debt. Using Bloomberg bond data for eleven emerging … economies, we document that countries react to crises by issuing debt with shortened maturity but back-load payment schedules …. To account for this pattern, we develop a sovereign default model with an endogenous choice of debt maturity and payment …

This paper studies the maturity and stream of payments of sovereign debt. Using Bloomberg bond data for eleven emerging … economies, we document that countries react to crises by issuing debt with shortened maturity but back-load payment schedules …. To account for this pattern, we develop a sovereign default model with an endogenous choice of debt maturity and payment …